Haemonetics (NYSE:HAE) Coverage Initiated at JPMorgan Chase & Co.

Stock analysts at JPMorgan Chase & Co. initiated coverage on shares of Haemonetics (NYSE:HAE) in a research note issued on Friday, Marketbeat Ratings reports. The brokerage set an “overweight” rating and a $116.00 price target on the medical instruments supplier’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 42.87% from the stock’s previous close.

Several other research analysts have also weighed in on HAE. JMP Securities reiterated a “market outperform” rating and set a $125.00 target price on shares of Haemonetics in a report on Tuesday, August 13th. Raymond James upgraded Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 target price on the stock in a report on Friday, November 8th. BTIG Research started coverage on Haemonetics in a report on Tuesday, September 10th. They set a “buy” rating and a $112.00 target price on the stock. CL King started coverage on Haemonetics in a report on Friday, September 13th. They set a “buy” rating and a $116.00 target price on the stock. Finally, Bank of America started coverage on Haemonetics in a report on Wednesday, September 11th. They set a “neutral” rating and a $85.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $108.78.

Haemonetics Stock Up 0.6 %

NYSE:HAE opened at $81.19 on Friday. Haemonetics has a 12-month low of $70.25 and a 12-month high of $97.97. The company has a quick ratio of 2.09, a current ratio of 3.49 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $4.08 billion, a P/E ratio of 33.69, a P/E/G ratio of 1.30 and a beta of 0.38. The stock’s fifty day simple moving average is $80.68 and its 200-day simple moving average is $81.75.

Haemonetics (NYSE:HAE) last posted its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.03. Haemonetics had a return on equity of 22.67% and a net margin of 9.10%. The business had revenue of $345.50 million for the quarter, compared to analyst estimates of $342.57 million. During the same period last year, the company earned $0.99 EPS. The firm’s revenue was up 8.6% on a year-over-year basis. Equities research analysts expect that Haemonetics will post 4.59 earnings per share for the current year.

Institutional Trading of Haemonetics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of Haemonetics by 9.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,201,565 shares of the medical instruments supplier’s stock valued at $337,722,000 after purchasing an additional 363,702 shares during the period. Royce & Associates LP increased its position in shares of Haemonetics by 2.6% in the third quarter. Royce & Associates LP now owns 1,210,546 shares of the medical instruments supplier’s stock valued at $97,304,000 after acquiring an additional 30,868 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Haemonetics by 1.8% in the third quarter. Geode Capital Management LLC now owns 1,193,927 shares of the medical instruments supplier’s stock valued at $95,986,000 after acquiring an additional 21,547 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of Haemonetics by 29.5% in the third quarter. Thrivent Financial for Lutherans now owns 1,100,183 shares of the medical instruments supplier’s stock valued at $88,433,000 after acquiring an additional 250,833 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Haemonetics by 6.3% in the second quarter. Dimensional Fund Advisors LP now owns 978,735 shares of the medical instruments supplier’s stock valued at $80,972,000 after acquiring an additional 57,665 shares during the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.

About Haemonetics

Haemonetics Corporation, a healthcare company, provides suite of medical products and solutions in the United States and internationally. The company offers automated plasma collection systems, donor management software, and supporting software solutions including NexSys PCS and PCS2 plasmapheresis equipment and related disposables and solutions, as well as integrated information technology platforms for plasma customers to manage their donors, operations, and supply chain; and NexLynk DMS donor management system and Donor360 app.